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Message
re: Social Security Administration announces 3.6% cost-of-living adjustment for 2027
Posted on 10/16/26 at 9:16 am to DownshiftAndFloorIt
Posted on 10/16/26 at 9:16 am to DownshiftAndFloorIt
quote:FWIW, there are alternatives.
Between ages Y and X - you keep paying, but you never get anything. Sorry, youre getting fricked. Id be in this bracket, and I dont even care. We're already figuring on getting fricked
Below age Y - you stop paying it / never will pay it, and it will be non existent by year 20XX
We could transition to a hybridized Canadian type system US Debt Instruments/S&P ROI (similar in some ways to the GWB proposal), preserving "benefits" on par, with relatively small increases in SS/payroll tax. I believe that approach is getting kicked around in the House. It would provide better ROI and reduce the amount being loaned through the SSTF to the government. Depending on the model, and point of introduction, the SSTF be preserved and would never go negative.
Posted on 10/16/26 at 9:21 am to danilo
My raise in the hospital is 2.5-3% annually. That’s as a PT with a graduate degree 
Fortunately I made some good investments to supplement my income but I don’t know how some of my coworkers do it. Just seems like a lot of people in supposedly good stable jobs are getting further and further behind
Fortunately I made some good investments to supplement my income but I don’t know how some of my coworkers do it. Just seems like a lot of people in supposedly good stable jobs are getting further and further behind
Posted on 10/16/26 at 9:53 am to NC_Tigah
Thats roughly what was proposed in the bush era, correct?
Posted on 10/16/26 at 10:05 am to beaverfever
quote:
. It seems increasingly likely that millennials will be the last generation with widespread private wealth.
Not if they are smart when they receive their portion of the "Great Wealth Transition" as the Boomers die.
If they keep that money in investments rather than spending it they can generate significant wealth to pass on to future heirs.
Unfortunately, most will likely blow it because they don't understand the principles of Time Value of Money.
This was the best part of privatization of SS it allowed you to pass it along to your heirs.
Posted on 10/16/26 at 10:14 am to SonicAndBareKnuckles
quote:
If SS taxes for my two brothers and I stopped today, we would easily have several thousand dollars extra each month to support our parents.
Unless you have several brothers you're full of shite. Assuming you are capped income bracket the most each of you would have extra each month is $953 because the tax is capped at $11,439 this year.
Posted on 10/16/26 at 10:28 am to armytiger96
quote:
Unless you have several brothers you're full of shite. Assuming you are capped income bracket the most each of you would have extra each month is $953 because the tax is capped at $11,439 this year.
You're not considering the ss tax on spouses and employers. Stay triggered though.
Posted on 10/16/26 at 10:33 am to DownshiftAndFloorIt
quote:Yes. The difference is Bush's was an elective individual carve out. The Canadian system actually invests the money, then distributes it. The latter is more risk protected. Essentially the SSTF would invest a portion of contributions in the market instead of putting all of it into blended treasuries.
Thats roughly what was proposed in the bush era, correct?
Posted on 10/16/26 at 10:47 am to DownshiftAndFloorIt
quote:Same.
Between ages Y and X - you keep paying, but you never get anything. Sorry, youre getting fricked. Id be in this bracket, and I dont even care. We're already figuring on getting fricked
Fully support this.
Unlike a large number of selfish individuals on here, Scruffy would gladly sacrifice for the youth of this nation.
Posted on 10/16/26 at 10:48 am to Scruffy
quote:
Scruffy would gladly sacrifice for the youth of this nation.
Posted on 10/16/26 at 10:54 am to SonicAndBareKnuckles
quote:
You're not considering the ss tax on spouses and employers. Stay triggered though.
I'm not triggered. I'm just enjoying pointing out that your "math isn't mathing" when you say several thousand instead of $1,000 each. You only mentioned brothers, not brothers and our spouses.
Even if you said a thousand each there is still a greater than 99.97% probability that you are full of shite since only 6% of the work force hits the cap. So the probability that you and your brothers all hit the cap is .0216%. Now that you want to throw wives into the equation the probability that all 6 of you are in a job that requires you to pay the cap is 4x10^-8
Since you want to throw wives into the equation and knowing this is the OT where obviously there is 100% probability that all 6 of you are capped it becomes a semantics argument of whether or not $5,700 would be considered several thousand dollars at which point I would agree with you.
I did not include employer contribution into the equation because I believe in the laws of supply and demand for labor. Since you have already agreed to work at your employer for the given wage. I have no reason to believe that you, I, or anyone else that is not self employed would automatically get a 6% raise (or equivalent to FICA tax) from our employers if FICA was abolished tomorrow.
This post was edited on 10/16/26 at 12:10 pm
Posted on 10/16/26 at 10:59 am to armytiger96
quote:Introducing squiggle symbols into the math is cheating
4x10^-8
Posted on 10/16/26 at 11:01 am to Houston problem
Wasn’t it closer to 10% a few years ago? Or was that just for va compensation?
Posted on 10/16/26 at 11:04 am to NC_Tigah
quote:
Introducing squiggle symbols into the math is cheating
Ha . . . too many decimal places. I would set myself up for a colossal failure had I had a typo and been off by a factor of 10.
Posted on 10/16/26 at 11:05 am to St Augustine
quote:Should have been a welder!
My raise in the hospital is 2.5-3% annually. That’s as a PT with a graduate degree
Fortunately I made some good investments to supplement my income but I don’t know how some of my coworkers do it. Just seems like a lot of people in supposedly good stable jobs are getting further and further behind
Posted on 10/16/26 at 11:07 am to lsucoonass
quote:
Wasn’t it closer to 10% a few years ago? Or was that just for va compensation?
It was 8.7% in 2023. VA usually follows SS COLA increases.
Posted on 10/16/26 at 11:07 am to St Augustine
quote:because the administrative staff in your hospital has doubled in size and tripled their salaries. Providers have sat back and allowed it to happen
My raise in the hospital is 2.5-3% annually. That’s as a PT with a graduate degree
Fortunately I made some good investments to supplement my income but I don’t know how some of my coworkers do it. Just seems like a lot of people in supposedly good stable jobs are getting further and further behind
This post was edited on 10/16/26 at 11:08 am
Posted on 10/16/26 at 2:35 pm to NC_Tigah
quote:
Canadian system
Get government out of it entirely.
Lock the required %, but keep it private.
Lastly, don't follow anything Canada does.
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